When is the right time to save for your child's education?
Have you been wondering when the right time is to start planning for your child's education? This article will help you make that decision.
Happiness, health, and success - these are some of the things parents wish for their children.
They also want their children to get an education and experience the good things in life.
Planning for your child's financial future is as essential as planning for any other thing in their life.
Truth is that having children comes with responsibility and ensuring that your child gets an education is one of them.
Sadly, education is not free. Millions of parents have to worry about having enough money to send their children to schools and tertiary institutions.
READ: New financial services provider, FutureWise, pioneers education inclusion
This is where financial planning comes in!
For many parents, the question around when is the right time to plan for their child's future is often met with a lot of other questions.
However, experts advise that as soon as you have children, it is good to start saving toward their education.
Parents who start planning their children's future as early as possible are more likely to give them a head start on a bright future...
The planning will reduce the financial pressure in the future. This is important because the times we live in are very uncertain.
Education serves as a legacy for your kids and gives them the keys they need in order to succeed in life.
Futurewise, a disruptive, digital-first education financial services provider, by Kagiso Tiso Holdings (KTH) and partners is designed at helping parents reach their financial goals when it comes to having the finances to support their children's education.
The services it offers includes:
● payment of tuition fees and or other costs such as uniforms, books, and travel (amongst others) in the event of a parent or guardian passing away,
● an education investment fund to assist parents with saving for their children's tertiary education, powered by Nedbank Corporate and Investment Banking and
● a market-first learning hub that provides content and products to support learners and that can be accessed from the inception of a policy - offering discounts for educational products and tutoring services amongst others.
The education insurance costs as little as R7 a day.
What’s great about Futurewise is that even in the event of death, or retrenchment, you can be sure that your child’s education will still be taken care of.
Read more about the different policies here.
READ: Futurewise aims to end educational exclusion in South Africa
Secure your child’s future dreams no matter what. Send a voice note of them telling us what they dream of becoming one day and stand to win up to R5 000, thanks to Futurewise Education Insurance!
WhatsApp your voice notes to 061 792 9495, with the word #Wise, and your child’s name. Then stay tuned to Darren, Keri & Sky to find out if you won.
More info on ecr.co.za
Ts, Cs and standard rates apply.
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Image courtesy of iStock/ @Drazen Zigic